Unsaturated Polyester Resins Market

Deere & Company (US), Honda Motor Co., Ltd. (Japan), The Toro Company (US), Andreas Stihl AG & Company KG (Stihl, Germany) are leading players in Outdoor Power Equipment Market

The outdoor power equipment is expected to grow from USD 22.3 billion in 2019 to USD 26.1 billion by 2024, at a CAGR of 3.2%. The market growth is mainly attributed to the rising adoption of battery-powered outdoor power equipment for maintaining lawns and gardening activities, growing demand for landscaping services, and increasing interest of homeowners in gardening activities. The outdoor power equipment allows altering, building, maintaining, and improving greenspaces at home, as well as in public and commercial spaces. Different types of outdoor power equipment are essential for basic yard maintenance and offer great aid and convenience in garden maintenance. Lawn mowers are one of the most commonly used outdoor power equipment to ensure evenly cut lawn.

Husqvarna Group (Sweden), Deere & Company (US), Honda Motor Co., Ltd. (Japan), The Toro Company (US), Andreas Stihl AG & Company KG (Stihl, Germany), and MTD Products (US) are the leading players in the outdoor power equipment market.

Husqvarna (Sweden) is a leading player offering outdoor power equipment to various end users. Husqvarna offers a diversified range of outdoor power equipment for professional as well as residential end users. Husqvarna has about 325 years of experience and a wide geographic presence across all the continents. Additionally, its subsidiaries all over the world make it easy for the company to sell its products in the domestic as well as in the international markets. The company is a pioneer in the development of robotic lawn mowers and battery-powered outdoor power equipment. It maintains a high level of investments in R&D and product development to maintain its leading position. It is growing through product launches and strategic acquisitions.

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Toro (US) is one of the leading manufacturers of outdoor power equipment. It offers outdoor power equipment for turf care maintenance, landscapes, agricultural fields, rental and specialty constructions, snow and ice management, and residential applications. Strategically identified manufacturing competencies, significant distribution network, and improved performance of the Professional business segment are its strengths. In March 2018, the company expanded its product offering to landscape contractors and grounds professionals by acquiring L.T. Rich Products, a leading manufacturer of commercial zero-turn spreader/sprayers, aerators and snow and ice management equipment.

Deere & Company (US) is one of the significant players in the outdoor power equipment market. It has a well-established distribution network across various regions. The company has strong R&D capabilities in the field of outdoor power equipment. Owing to its innovative technological capability, the company can offer diversified and innovative products for customers, thereby driving competitiveness in the market. It focuses on developing customized products to meet its customers’ specific application needs. For instance, in 2018, the company launched the 1600 series III mowers with a variety of features designed to increase operator comfort and improve performance, reliability, and serviceability.

Honda (Japan) offers a wide variety of outdoor power equipment and has unique proficiency in engine design and development. It focuses on sales by taking advantage of its wide geographic reach and brand name. The company’s broad product portfolio helps it cater to a diversified customer base and withstand demand–supply fluctuations arising in various product segments. Its strong focus on R&D allows it to maintain a competitive edge over its rivals by developing innovative products. In 2017, the company entered into robotic lawn mower market segment by launching HRM 310 and HRM 520 models in the US.

STIHL (Germany) is one of the leading suppliers of portable outdoor power equipment. It is building the technological leadership by offering innovative products and services. The company is focused on economic, environmental, and socially balanced growth, which is likely to help it to establish a broad product portfolio. The company is trying to expand geographically to become a strong leading player in the outdoor power equipment market. In line with its strategy of expansion, in 2017, the company invested USD 114 million in new buildings to extend and modernize its facilities in Waiblinge, Germany.

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Report Code
CH 1348
RI Published ON
5/22/2019
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